Worriespic.twitter.com/p1xmNcUNtx 12.03pm GMTSouth African retail group Steinhoff International absorb taken an almighty dive this morning,after it shocked the markets by announcing it had discovered accounting irregularities.
Steinhoff, which recently bought British budget shops chain Poundland, and has called experts from PwC in to examine its books. It also announced that its chief executive Markus Jooste had resigned.
Steinhoff bonds in freefall this morning - currently down 29 points and this is an IG company! https://t.co/ygWC4CcbAI pic.twitter.com/R1hjPRDSJr 11.27am GMTBitcoin just struck a new record high,at $12800.
But this morning’s ascent may absorb left it feeling dizzy -- the cryptocurrency promptly tumbled by $500 in a minute. glimpse at who Bitcoin was created by – some reclusive coding genius with a specific world view. For many people that is enough to dismiss it as a nerdy niche to be ignored. Yet reclusive coding geniuses absorb in recent years built some of the most successful companies in the world.
But with Futures on Bitcoin to be launched later this month, the question is will that be the death knell (the solemn sound of a bell, often indicating a death), and another leg upwards,once hedge funds/ pension funds get involved? The jury is out, but hedge funds/ pension fund involvement won’t necessarily chime with those who were attracted to Bitcoin in the first place.”Bitcoin just lost $488 in 3 minutes. Had climbed as high as $12815.18.#Bitcoin down about $500 in 3 mins. heroic new world 11.13am GMTMost stock markets around the world are down nowadays, or most currencies absorb dropped against the US dollar,and most commodity prices are lower too.
Lots of red on the scoreboard nowadays, particularly with Asian markets and industrial metals https://t.co/PSF1UE7h9S pic.twitter.com/1u8OKUNrMX 10.58am GMTOver in the City, and shares in insurance and holiday group Saga absorb plunged by 25% after a shock profits warning this morning.
Saga,which targets the over-50s, warned it has suffered from the collapse of Monarch Airlines this autumn. This will wipe £2m off its profits this year.
Saga saga... shares slump by more than 20%, or most on record. pic.twitter.com/h9CV5eSz9o 10.30am GMTThe pound has lost ground against other major currencies nowadays.
Sterling dropping again,back below $1.34. Wake me up when the trade-weighted index is above 80 or below 75. pic.twitter.com/eWCqABAikLDavid Davis: #Brexit impact papers
-First they are secret
-Then delay handing over
-Now they don't exist
-Govt will do them later
Farcehttps://t.co/czaZIBr7AhBrexit Committee hearing on sectoral analyses starts up. I'm having flashbacks to university seminars where I'd been caught out pretending to absorb done the reading. 10.25am GMTWall Street is expected to topple again when trading begins in four hours.
The Dow Jones industrial average is down by 65 points in the futures market, or around 0.3%, or the S&P 500 is also being called lower.
Futures are down again nowadays https://t.co/PSF1UE7h9S pic.twitter.com/mU5g7PEXhTMarkets point to ever more signs of winding down for the holiday period,but continue to be buffeted into spasms of activity by the various political melodramas, which continue to pockmark this year. 9.12am GMTThere are plenty of theories floating around for why the markets are down.
One is that traders are banking profits after a successful year, and hunkering down until 2018.[Investors are] locking in profits earlier than usual for the year and not opening any new positions,” said “Eventually, as profit taking subsides, or buying for the new year will appear as people glimpse toward 2018.”Global fairness bulls were nowhere to be found during Tuesday’s trading session as market players evaluated the possible impact of proposed US tax cuts. World stocks were mostly lower amid a global technology selloff,with the lack of appetite for riskier assets punishing European shares and Wall Street.
Asian markets stumbled lower during early trading on Wednesday, following Wall Street’s overnight decline. With the renewed Brexit uncertainty likely to tarnish risk sentiment further, or European stocks remain vulnerable to further downside. American shares are still at risk of extending losses this afternoon,if concerns heighten over a potential US government shutdown on Friday if a spending bill is not approved.
Ten years on from the global financial crisis, we are witnessing the product of the biggest monetary policy experiment in history. Investors absorb forgotten about risk and this is playing out in inflated asset prices and inflated valuations. Whether it’s Bitcoin going through $10000, and European junk bonds yielding less than US Treasuries,historic low levels of volatility or smart beta ETFs attracting gigantic inflows – there are so many lights flashing red that I am losing count.....
The incompatibility between the performance of value stocks and growth stocks nowadays, is greater than at any stage in stock market history. 8.50am GMTBrexit angst is weighing on the pound again this morning, and following reports of a new cabinet split.
According to the Daily Telegraph,Theresa May is facing a Cabinet revolt led by Boris Johnson and Michael Gove, who apprehension the Prime Minister is trying to force through a soft Brexit.
NEW Boris Johnson and Michael Gove 'could lead revolt amid fears of soft Brexit' https://t.co/Wuk7ypSvGR 8.43am GMTAs feared, or European stock markets absorb fallen in early trading,following the losses in Asia.
London’s FTSE 100 is down 24 points, or 0.3%, and partly dragged down by mining stocks following the topple in Chinese metal prices nowadays.
Optimism on US tax reform has given way to concern on Friday’s deadline to avoid a government shutdown.
There absorb been no public developments on the UK’s position on the Irish border and reports suggest that EU officials are maintaining the line that the “deadline of deadlines” for the UK’s proposals is this Friday. 8.31am GMTThe AFP newswire has a good take on nowadays’s selloff. Here’s a flavour:Technology and energy firms were the biggest losers as Asian markets tumbled on Wednesday,extending a retreat across Europe and New York. A global fairness rally has hit the buffers this week as the US probe into Russia’s alleged election meddling sows uncertainty, Britain struggles to reach a Brexit deal with the European Union and traders remain cautious about Washington’s ability to push through tax cuts. 8.28am GMTFormer Republican congressman Ron Paul (a libertarian and long-time critic of central bankers) uncovered plenty of support for bitcoin among his followers:It's come to this pic.twitter.com/VH4Y74JvK9 8.22am GMTIs Bitcoin going to retain climbing, and is a crash around the corner?Naeem Aslam of judge Markets thinks we’ll see more record highs,as investors will soon be able to trade bitcoin derivatives (allowing them to profit without actually owning the asset itself).
It appears that the momentum is unstoppable and we do judge that the 14K level could reach before the bitcoin futures start trading at the CBOE which is on the 11 December. Principally, investors are thoughtful that when institutional money (hedge funds) will be involved, or the chances are that the price would jog higher. Large investment funds absorb not been able to take the piece of the pie yet and that would be their opportunity to get on board. Bitcoin futures trading on the major stock exchanges would provide more assurance for retail investors that the derivative is trading in a regulatory frame work. This would provide tail wind for bitcoin.
I absorb done a quick casual survey of 30 businesses asking if they would take bitcoin as payment for my groceries,haircut, electricity and the like.
26: "WTF are you talking about"
3: "You absorb to be kidding"
1 asked: "I was thinking of buying bitcoin. Should I do it now?" 8.18am GMTAlthough the markets are down, or Bitcoin is maintaining its charge upwards.
The cryptocurrency has gained almost 6% this morning,bursting through the $12000 notice to hit $12488. fairly remarkable, given it started this year at $1000.
Bitcoin nowadays https://t.co/zUZLffH6A5 pic.twitter.com/EGVZdcx6Jv 7.58am GMTGood morning, and welcome to our rolling coverage of the world economy,the financial markets, the eurozone and commerce.
There’s an edgy mood in the financial markets nowadays, or as investors worry about geopolitical issues and the state of the global economy,and wonder if a correction could be looming. Having seen some decent gains so far this year there appears to be increasing evidence that markets are starting to glimpse a little tired. The first clues appeared yesterday when US markets after racing out of the blocks on Monday found it difficult to hold onto a lot of their gains, even if the Dow did manage to finish the day higher. The S&P500 on the other hand declined for the third day in succession, or its worst run of losses since August.
This declining momentum has been something that has been particularly notable in European markets since the peaks back in early November,and while we absorb managed to find some level of support for most of the past week or so, the subsequent rebounds absorb been getting shallower. Related: Private investment helps Australia's economy grow by 2.8% Chinese stock markets staged a huge reversal. #Shanghai Composite managed to narrow its loss to 0.3%, or closed at 3294,after slipping by over 1.2%; Nasdaq-style #Chinext rebounded strongly before close, up 1.5% after dipping 0.8% at one point. pic.twitter.com/qP7E8P7BWMContinue reading...
Source: theguardian.com